Worldcoin (WLD) is currently trading at $1.56, and it experienced a 3.55% decrease over the past 24 hours. Market activity is also dwindling, with the trading volume declining by 29.99% and currently standing at $522 million. This decrease in the daily movement evokes less involvement by the traders than previous sessions.
Source: CoinMarketCap
WLD has performed well on a weekly basis, although there has been a pullback lately. The price of the coin has increased by 27.85% over the last seven days. This increasing trend is an indication of rising interest and upwards momentum in the short run, despite the daily figures showing a temporary pressure.
Crypt analyst AltCryptoTalk highlighted that WLD had lately registered a sharp upward move of over 137% within a span of one week. That spike ranked it among the best movers in the crypto market. The coin was rejected once it arrived at the top point of its wedge shape. The price action subsequently entered a correction phase, drawing back to a major support level.
The coin has bounced back, testing support at $1.40 to the $1.50 mark. This area has become crucial in the sustainability of weekly gains. Analysts indicate that given the support, WLD may consider targeting $2.50 as the new resistance point. In case of a failure of the level, the level may be corrected even deeper in the market.
Source: X
The Relative Strength Index (RSI) stands at 63.37, with the signal line standing at 61.57. The readings are bullish but also have an indication of potential overbought states. With the RSI still increasing, sellers would be able to intervene. A consistent RSI would favor any further bullish action.
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The Moving Average Convergence Divergence (MACD) offers a cautionary signal as well. The MACD line is 0.185 with the signal line at 0.137. Bullish activity is indicated by the record of 0.048 in the histogram. Nevertheless, the decline in the gap between the lines indicates the possibility of slowing momentum.
Source: TradingView
According to CoinGlass data, the trading volume decreased by 27.99% to $1.72 billion. Open interest dropped 10.42% to $655.57 million. The OI-weighted rate of funding stands at a positive 0.0099%, which means that long positions remain dominant. All these figures illustrate a market that is navigating a careful course in the short term while maintaining an underlying sense of optimism.
Source: CoinGlass
WLD will make its next move on the support of $1.40-$1.50. This level might have gains reaching to $2.50. Failure may open the door to more downside. Traders are attentively observing as the coin surges after a strong performance in recent weeks.
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